News & Analysis as of

Breach of Duty › Trustees › Limited Liability Company (LLC)

Farrell Fritz, P.C.

The Humble LLC Exculpation Clause Wins Big: Member/CEO Escapes $8M Fiduciary Claims

Farrell Fritz, P.C. on

It’s difficult to assess the potency of section 417(a) of New York’s LLC law.  The provision starts off with a seemingly broad rule: “The operating agreement may set forth a provision eliminating or limiting the personal...more

ArentFox Schiff

Minority Business Owners and Trust Beneficiaries May Be Able to Obtain Otherwise Privileged Documents

ArentFox Schiff on

In certain circumstances, shareholders of corporations and members of limited liability companies can obtain confidential communications between corporate management and the company’s attorney that would otherwise be...more

Herbert Smith Freehills Kramer

Creditors of a Limited Partnership or a Limited Liability Company Lack Standing to Sue Derivatively Under Certain State Laws

Herbert Smith Freehills Kramer on

In Gavin/Solmonese LLC, Liquidation Trustee for the Citadel Creditors’ Grantor Trust, successor to Citadel Watford City Disposal Partners, L.P., et al. v. Citadel Energy Partners, LLC, et al., Ch. 11 Case No. 15-11323; Adv....more

Bryan Cave Leighton Paisner

2015 Georgia Corporation and Business Organization Case Law Developments

Bryan Cave Leighton Paisner on

This survey covers the legal principles governing Georgia businesses, their management and ownership. It catalogs decisions ruling on issues of corporate, limited liability company and partnership law, as well as transactions...more

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